Saudi Arabia nets $9bn in private funds for sustainable agriculture
RIYADH, 3 hours, 40 minutes ago
Saudi Arabia's Ministry of Environment, Water, and Agriculture has announced a significant surge in private sector investments in the kingdom's agriculture and food sector, with total investments surpassing SAR37 billion ($9.8 billion).
These investments cover a broad range of projects, including crop production, livestock and fisheries, as well as agricultural processing, manufacturing, and infrastructure development. All projects align with Saudi Vision 2030, said the ministry in a statement.
The ministry is also encouraging investments in cold chain infrastructure to improve the transportation of agricultural products and the establishment of marketing centers throughout the kingdom, it stated.
The announcement was made during a panel discussion at the 41st Saudi Agricultural Exhibition in Riyadh. The discussion titled "Vision 2030 and the National Food Strategy: Future Challenges," was led by Assistant Deputy Minister for Agriculture Dr. Sulaiman Al Khateeb.
He emphasized the crucial role of the private sector in advancing the agricultural sector and supporting the ministry's efforts to achieve food security, economic growth, social development, and environmental sustainability.
These objectives are consistent with the National Agriculture Strategy 2034, which focuses on natural resource sustainability, innovation, pest prevention, increased economic contribution, and fostering a thriving agricultural community.
Al Khateeb said to facilitate these investments and enhance sector efficiency, the ministry has introduced various incentives and enablers.
These include supporting investment opportunities, promoting the adoption of modern agricultural technologies, providing agricultural loans through the Agricultural Development Fund, encouraging affordable land leases, streamlining licensing procedures for agricultural projects, and offering technical and advisory support to farmers, he added.-TradeArabia News Service
